Tata subsidiary appoints interim replacement for Mistry

Ishaat Hussain becomes chairman of Indian conglomerate's software arm

Tata Sons has appointed Ishaat Hussain as interim chairman of its software arm Tata Consultancy Services in place of Cyrus Mistry, who was ousted last month.

According to the Press Trust of India news agency, TCS received a letter dated November 9 from Tata Sons nominating Hussain as chairman of the company with immediate effect until a permanent replacement is found.

Hussain is also chairman of Tata’s air conditioning and engineering arm Voltas and serves as a director on the boards of two other group companies, Tata Steel and satellite television provider Tata Sky.

Tata Chemicals, another company where Mistry is chairman, is due to hold a board meeting on Thursday at which he is expected to attend. Mistry is also chairman of Tata Motors and Tata Steel.

Last week the board of the conglomerate’s hospitality arm Indian Hotels Co unanimously backed Mistry staying on as chairman.

Mistry’s ouster on October 24 triggered a public spat between him and Tata Sons, which has also pushed some of his closest aides out of the group. His family controls an 18.41% stake in the group.